AGL Energy, Australia’s biggest electricity generator, says it remains determined to pursue its plan to split despite a bid for a blocking stake by technology billionaire Mike Cannon-Brookes.
In a second tilt at the company in three months, Cannon-Brookes bought 11.28% of the AGL shares through his family’s Grok Ventures firm, making him the largest single shareholder. That’s almost half the 25% of shareholders needed to derail the demerger.
